Amid a slew of mega orders, shares of Aerospace major Boeing (NYSE:BA) have surged nearly 21% over the past month, and it seems the rally is set to continue. According to Reuters, deliveries of Boeing’s 787 Dreamliners to China could resume within days.
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Reportedly, Chinese carrier Juneyao Airlines is set to take delivery of a new 787. The development could open the gates for deliveries of Boeing’s 737 MAX jets to the country after a hiatus of more than four years. Orders and deliveries for Boeing’s planes to China have been in limbo following two fatal crashes of 737 MAX jets nearly four years ago.
Earlier this year, Boeing’s 737 MAX soared in the Chinese skies after a gap of nearly three years. A re-entry into the lucrative Chinese market could substantially boost Boeing’s fortunes. Boeing expects China to make up for 20% of the world’s airplane deliveries over the next 20 years.
Recently, Boeing bagged an order for up to 100 737 MAX jets from Lufthansa (DE:LHAB), the largest airline group in Europe. It has also won orders for 40 737-8 jets from Avolon and 16 maritime patrol planes from the Canadian military.
Is BA a Good Buy Right Now?
Shares of the company are already up nearly 2% in the early session today. Overall, the Street has a Strong Buy consensus rating on Boeing, and the average BA price target of $273.85 points to a modest 5.2% potential upside in the stock.
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